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Cree Delivers Exceptional Light Quality and Energy Savings to Walgreens
|By Business Wire
|June 25, 2014 09:07 AM EDT
Walgreens Co. (NYSE: WAG) (Nasdaq: WAG), one of the nation’s leading
retailers, selected energy-efficient LED lighting by Cree, Inc. (Nasdaq:
CREE) for its Goodyear, Ariz. location, delivering superior illumination
while lowering the total cost of ownership compared to fluorescent
lighting alternatives. The 14,820 square-foot store now features Cree®
LED troffers, linear luminaires and downlights, saving the
retailer thousands in annual energy and maintenance costs.
“Cree’s products deliver among the best light levels in the industry
matched with superior efficacy, which helps lower our total cost of
ownership since less power is needed to illuminate all levels of our
shelves over alternative light fixtures,” said Jamie Meyers, manager of
sustainability for Walgreens. “We had been looking to add LED technology
to our corporate sustainability program for a while, and with the
successful Cree® lighting implementation at the Goodyear
store, it’s clear that it’s time to roll this out on a larger level. We
are planning to incorporate LED lighting into all of our new stores
Supporting Walgreens’ commitment to PURE (People Using Resources
Efficiently), which focuses on environmental sustainability by managing
energy consumption, the Cree LED lighting system allows Walgreens to
reduce its energy usage and operating costs without compromising light
CS18™ and CS14™ LED linear luminaires deliver
strong vertical light levels throughout the sales floor, while Cree
CR24™ troffers, designed to
last 100,000 hours, help Walgreens reduce energy consumption and
maintenance needs in the pharmacy. More importantly, the Cree luminaires
are backed by Cree’s 10-year industry-leading limited warranty,
providing investment protection.
“Our innovative LED lighting delivers real value by supporting the
bottom line. Retailers no longer need to look to outdated technologies
for a comprehensive lighting solution,” said Steve Barlow, senior vice
president of lighting sales, Cree. “LED technology is the perfect
complement to corporate social responsibility programs for leading
retailers like Walgreens that are exemplifying the benefits of
high-quality illumination with significant energy savings.”
Lighting has been an integral part of Walgreens since its first store
opened in 1901, which featured “new, bright lights to create a cheerful,
warm ambiance,” a marked departure from the dimly-lit stores of
competitors. Powered by Cree TrueWhite® Technology, Cree CS18
and CR24 architectural troffers deliver 90+ CRI, providing exceptional
color rendering to showcase merchandise in their truest colors.
“With Cree, the colors of our merchandise pop to such an extent that
customers can easily see items on the bottom shelves,” added Meyers.
“There is a distinctively different feel when you walk into this store.
Cree® LED lighting has a better quality to it. It’s crisper
and cleaner. That’s valuable to us, particularly as a retailer trying to
make our product look as appealing as possible.”
Please visit www.cree.com/lighting/walgreens
to read the full case study and view images of the installation.
Cree is leading the LED lighting revolution and making energy-wasting
traditional lighting technologies obsolete through the use of
energy-efficient, mercury-free LED lighting. Cree is a market-leading
innovator of lighting-class LEDs, LED lighting and semiconductor
products for power and radio-frequency (RF) applications.
Cree's product families include LED fixtures and bulbs, blue and green
LED chips, high-brightness LEDs, lighting-class power LEDs,
power-switching devices and RF devices. Cree® products are
driving improvements in applications such as general illumination,
electronic signs and signals, power supplies and solar inverters.
Please refer to www.cree.com/lighting
for additional product and company information.
This press release contains forward-looking statements involving risks
and uncertainties, both known and unknown, that may cause actual results
to differ materially from those indicated. Actual results may differ
materially due to a number of factors, including the risk that actual
savings and lifetimes will vary from expectations; that Walgreens’s
plans for additional stores to install LED lighting may change; the
rapid development of new technology and competing products that may
render Cree’s products obsolete; and other factors discussed in Cree’s
filings with the Securities and Exchange Commission, including its
report on Form 10-K for the year ended June 30, 2013, and subsequent
Cree®, Cree TrueWhite®, and TrueWhite®
are registered trademarks, and CR24™, CS18™,
and CS14™ are trademarks of Cree, Inc.
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